The fund invests primarily in U.S. dollar denominated fixed income securities that the Advisor believes are undervalued. It may invest in all types of fixed income securities but will typically invest in fixed income securities such as corporate bonds, U.S. government securities and mortgage-backed securities. At least 80% of its net assets (including the amount of any borrowings for investment purposes) will be invested in fixed income investments, which include fixed income securities and shares of other RICs that invest primarily in fixed income securities.

CMFIX

The investment seeks to provide current income, consistent with preservation of capital. The fund invests in a mix of American Funds fixed income funds. It will principally invest in funds that seek current income through investments in bonds or in other fixed income instruments. The underlying funds may hold securities issued and guaranteed by the U.S. government, securities issued by federal agencies and instrumentalities and securities backed by mortgages or other assets. The investment adviser anticipates that exposure to mortgage-backed securities and asset-backed securities may help the fund generate current income.

CPPAX

The fund typically invests at least 65% of its net assets in investment grade, U.S. dollar-denominated debt securities, as assessed at the time of purchase. It may invest up to 35% of its net assets in below-investment grade, high-yield debt instruments (commonly known as "junk bonds"), including distressed instruments that are in default. The fund may also invest up to 25% of its net assets in foreign debt securities.

CSDAX

The fund invests, under normal circumstances, at least 80% of its net assets in fixed-income securities. It may invest in a broad range of securities in both developed and emerging markets. The fund may invest across all fixed-income sectors, including corporate and U.S. and non-U.S. government securities. It may invest up to 50% of its assets in below investment grade bonds ("junk bonds").

CSHTX

The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in a broad range of investment grade debt securities that have a dollar weighted average portfolio maturity of three years or less. It will invest primarily in investment grade debt securities. In addition, the fund may invest up to 20% of its net assets in below investment grade debt securities, which are sometimes referred to as high yield or "junk" bonds, which include bonds, bank loans and preferred securities.

CSTIX

Under normal circumstances, the advisor intends to invest primarily in fixed income and other income-producing instruments rated investment grade and unrated securities considered by the Adviser to be of comparable credit quality. The advisor intends to invest at least 80% of the fund's net assets (plus the amount of borrowings for investment purposes) in bonds. The fund may, however, invest up to 50% of its total assets in fixed income and other income-producing instruments rated below investment grade and those that are unrated but determined by the Adviser to be of comparable credit quality.

DBLSX

The investment seeks to provide high income and also seeks to maintain a high degree of stability of shareholders' capital. The fund invests at least 65% of its total assets in fixed income securities rated, at the time of purchase, within the top four credit rating categories by a nationally recognized statistical rating organization (a "NRSRO"). It may invest in securities of varying maturities.

DBPIX

The fund pursues its investment objective by investing in a combination of debt securities, including inflation-protected securities, and derivative instruments. It will maintain an average portfolio duration of three years or less. It is authorized to invest more than 25% of its total assets in U.S. Treasury bonds, bills and notes, and obligations of federal agencies and instrumentalities.

DFAIX

The fund seeks to maximize total returns from a universe of high quality, U.S. issued, dollar-denominated fixed income securities maturing in three years or less from the date of settlement. It invests at least 80% of its net assets in fixed income securities that mature within two years from the date of settlement. The fund may invest in futures contracts and options on futures contracts.

DFCFX

As a non-fundamental policy, under normal circumstances, the Portfolio will invest at least 80% of its net assets in fixed income securities considered to be investment grade quality. In addition, the Portfolio is authorized to invest more than 25% of its total assets in U.S. Treasury bonds, bills and notes, and obligations of federal agencies and instrumentalities.

DFEQX

Under normal market conditions, the fund invests at least 80% of its net assets in securitized bond investments. It will maintain an average portfolio duration of less than three, although under certain market conditions, such as periods of significant volatility in interest rates and spreads, the fund’s average duration may be longer than three.

DHEAX

The investment seeks current income. The fund will invest at least 80% of its total assets (plus the amount of any borrowings for investment purposes) in a diversified portfolio of fixed income securities. It will normally be constructed with an average duration of three years or less. The fund primarily invests in bonds, debt, fixed income and income-producing instruments issued by governmental or private-sector entities, including mortgage-backed securities, asset-backed securities, junk bonds, corporate debt, foreign securities, inflation-indexed bonds, bank loans and assignments, collateralized loan obligations, preferred securities and SPACs.

DLDFX

The investment seeks to maximize total return, consisting of capital appreciation and current income. To pursue its goal, the fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed-income securities of U.S. and foreign issuers rated investment grade or the unrated equivalent as determined by the advisor. It will focus on U.S. securities, but may invest up to 30% of its total assets in fixed-income securities of foreign issuers (i.e., securities issued by companies organized under the laws of countries other than the U.S. or securities issued by foreign governments). The fund is non-diversified.

DSTIX

The fund seeks to maximize total returns from a universe of U.S. and foreign corporate debt securities that mature within five years from the date of settlement. As a non-fundamental policy, under normal circumstances, it will invest at least 80% of its net assets in debt securities.

DTCPX

Under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in investment grade fixed income securities, including, but not limited to, fixed income securities issued or guaranteed by the U.S. government, its agencies or instrumentalities, and by U.S. corporations. The fund may invest up to 20% of its net assets in below-investment-grade securities.

DTRIX

The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities of U.S. and foreign corporate issuers, which will include corporate bonds, collateralized loan obligations and mortgage-backed and other asset-backed securities, and structured notes with economic characteristics similar to fixed income securities. It will invest in callable bonds, as well as fixed income securities that pay a fixed or floating interest rate or interest that is payable in-kind or payable at maturity.

FCFAX

The fund's overall investment strategy is to invest in a portfolio consisting primarily of U.S. Treasury securities, U.S. government agency securities, (including mortgage-backed securities issued or guaranteed by U.S. government agencies or instrumentalities), mortgage-backed securities (MBS), asset-backed securities and investment-grade corporate securities. It will invest at least 80% of its net assets plus the amount of any borrowing for investment purposes in fixed-income securities. The fund may invest its assets in securities of other investment companies, including the securities of affiliated money market funds.

FGCSX

The investment seeks to maximize total return, consisting of income and capital appreciation, consistent with the preservation of principal. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities. The advisor actively manages the duration of the fund and purchases securities such that the average weighted duration of the fund's portfolio will typically range within plus or minus four years of the fund benchmark's duration. Its fixed income investments focus primarily on investment grade securities, but may at times include securities rated below investment grade.

FIJEX

The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities. Its emphasis is on total return with low volatility by investing primarily in shorter-term investment grade securities. The fund invests in a diversified mix of taxable fixed income securities. The Adviser actively manages the maturity of the fund and purchases securities which will, on average, mature in less than 5 years.

FILDX

The fund invests primarily in debt securities, which may be represented by derivative investments that provide exposure to debt securities such as futures, options and swap agreements. It may also invest up to 20% of its total assets in non-investment grade securities, including up to 5% in securities rated lower than B- by S&P or Moody's, which may include defaulted securities.

Symbol	Full Name	Category	Inception	Expense Ratio	YTD Return	10Y Return (Annualized)	Dividend Yield
CMFIX	CM Advisors Fixed Income Fund	Short-Term Bond	Mar 24, 2006	0.88%	0.72%	2.22%	4.55%
CPPAX	American Funds Preservation Portfolio	Short-Term Bond	May 18, 2012	0.61%	-0.58%	1.07%	3.57%
CSDAX	Calvert Short Duration Income Fund	Short-Term Bond	Jan 31, 2002	0.76%	0.18%	1.90%	4.25%
CSHTX	AB Taxable Multi-Sector Income Shares	Short-Term Bond	Sep 15, 2010	0.00%	0.37%	1.64%	3.56%
CSTIX	Calamos Short-Term Bond Fund	Short-Term Bond	Sep 19, 2018	0.40%	0.03%	—	4.20%
DBLSX	DoubleLine Low Duration Bond Fund	Short-Term Bond	Sep 30, 2011	0.41%	1.11%	2.13%	4.69%
DBPIX	DWS Short Duration Fund	Short-Term Bond	Dec 23, 1998	0.50%	0.43%	2.51%	6.79%
DFAIX	DFA Short-Duration Real Return Portfolio	Short-Term Bond	Nov 5, 2013	0.22%	2.44%	2.18%	3.58%
DFCFX	DFA Two-Year Fixed Income Portfolio	Short-Term Bond	Jun 6, 1996	0.21%	1.63%	1.00%	3.86%
DFEQX	DFA Short-Term Extended Quality Portfolio	Short-Term Bond	Mar 4, 2009	0.19%	1.42%	1.49%	3.65%
DHEAX	Diamond Hill Short Duration Securitized Bond Fund	Short-Term Bond	Jul 5, 2016	0.83%	2.30%	—	5.55%
DLDFX	Destinations Low Duration Fixed Income Fund	Short-Term Bond	Mar 20, 2017	0.93%	2.06%	—	5.95%
DSTIX	BNY Mellon Short Term Income Fund	Short-Term Bond	Aug 18, 1992	0.60%	0.14%	1.08%	3.62%
DTCPX	DFA Targeted Credit Portfolio	Short-Term Bond	May 20, 2015	0.20%	1.18%	—	3.19%
DTRIX	Delaware Limited-Term Diversified Income Fund	Short-Term Bond	Nov 25, 1985	0.64%	-0.09%	1.46%	3.54%
FCFAX	Frost Credit Fund	Short-Term Bond	Dec 3, 2012	0.96%	1.89%	3.91%	5.94%
FGCSX	Federated Hermes Short-Interm Total Ret Bd Fd	Short-Term Bond	Sep 2, 2005	0.63%	-0.64%	1.22%	2.72%
FIJEX	Frost Total Return Bond Fund	Short-Term Bond	Apr 25, 2008	0.46%	0.75%	2.91%	5.52%
FILDX	Frost Low Duration Bond Fund	Short-Term Bond	Apr 25, 2008	0.43%	0.36%	1.48%	3.89%
FLDAX	Franklin Low Duration Total Return Fund	Short-Term Bond	Nov 17, 2004	0.71%	0.12%	1.32%	3.91%

The Best Short-Term Bond Mutual Funds

Risk vs. Return Scatterplot